Neimeth, LASACO Assurance, WAPIC Insurance top Ripples Nigeria stock watchlist

The week that just went by was an uncomfortable one for investment at the Nigerian Stock Exchange (NSE) as the market capitalisation closed lower than that of the week before. The bullish run that dominated the market Tuesday through Friday was not enough to push the market capitalisation up despite the week closing with a higher All Share Index.

We have gleaned a list of stocks you should watch out for this week from companies that reported corporate actions last week.

Ripples Nigeria stock watch-list is a group of stocks monitored for viable trading or investing opportunities. An investor may routinely generate a list of equities for investment purposes. But we have taken the pain to do that based on certain parameters in order to save you that hassle.

Ripples Nigeria stock watch-list is not a buy, sell or hold recommendation. Please consult financial advisor before making any investment decision.

NEIMETH INT’L PHARMACEUTICALS PLC

Neimeth Inter’l Pharmaceuticals comes top of our list this week on the strength of its position as the best performing stock on the NSE last week. It opened at N0.40 and closed at N0.56.

Read also: BUSINESS ROUNDUP: FG’s Enugu coal mines revival, GDP’s increase in Q3 2019; see other stories that made the pick

LASACO ASSURANCE PLC

LASACO Assurance comes next on the basis of recording the worst performance on the bourse in the week in question. It opened at N0.29 and closed at N0.23, depreciating by 20.69% in the process.

WAPIC INSURANCE PLC

Wapic Insurance PLC makes the list as it announced its Rights Issue of 15,613,194,623 ordinary shares of 50 kobo each at 0.38 per share. The allocation is on the basis of 7 new ordinary shares for every 6 held as of the close of business on 19 September, 2019. The acceptance list had opened on Wednesday 20 November, 2019 with the closing date fixed for Tuesday 31 December, 2019.

SEPLAT PETROLEUM DEVELOPMENT COMPANY PLC

SEPLAT Petroleum makes our watch-list this week by reason of its proposed cash acquisition of Eland Oil and Gas PLC by way of Scheme of Arrangement. Its notification to the Exchange stated that all the proposed resolutions were duly passed by the requisite majorities at the court meeting and general meeting held on 20th November, 2019.

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